If you’re working in the rapidly evolving cannabis industry, where access to capital is crucial for growth, you know the value of having a resource to turn to when (not if) dilemmas arise.
As the nation’s leading cannabis-focused lender, FundCanna offers tailored financial solutions that empower operators to scale effectively – we also want to empower you with information.
Watch the webinar "Titans of Finance" to gain financial perspectives to help you navigate your next business moves. In this companion blog we highlight some nuggets of knowledge that operators can use. Read on to learn about three practical ways cannabis businesses leverage financing to drive expansion on their terms.
Enhance Retail Operations with Working Capital
Operating a successful dispensary requires substantial working capital to maintain inventory, manage payroll, and cover day-to-day expenses. Traditional banks often hesitate to fund cannabis businesses due to federal regulations. FundCanna bridges this gap by providing dispensaries with quick access to working capital, enabling them to keep shelves stocked and operations running smoothly.
Real Life Example: An independent dispensary needed to quickly replenish inventory after a big sales weekend. The customers were asking for fresh drops but the dispensary’s shelves were looking bleak. The dispensary had worked with FundCanna on a previous project and reached out to renew their funding. The operator applied for more business funding with FundCanna, was approved and funded the same day.
The dispensary operator was immediately able to procure their high-demand products in bulk and even add some new SKUs, ensuring they exceeded customer demand without interruption. Sales increased by over 30% as a result.
Upgrading Cultivation Facilities through Equipment Financing
Cultivators that aim to enhance product quality, offerings, and yield need to invest in advanced equipment like specialized lighting, climate control systems, and processing machinery. However, high upfront costs can be a barrier. FundCanna’s equipment financing solutions allow cultivators to acquire necessary tools without depleting their cash reserves.
By financing equipment purchases, producers can improve their operations and repay the borrowed cash over time, aligning payments with increased revenue from higher-quality yields and/or expanded product offerings.
Real Life Example: A mid-sized licensed cultivator decided to add new SKUs to include their own pre-rolled joints that they would manufacture onsite. Previously, the company outsourced production of joints but had found ideal equipment to bring pre-roll production in house.
Over time, the new production line would make their pre-roll category more profitable. But the equipment they needed exceeded their price range and while they figured out how to overcome their budget hurdles, they had valuable biomass sitting in their warehouse aging – they needed to act.
The cultivator applied for and was approved for the funding they needed to complete the project. The grower used the capital to secure and install the new equipment, as well as pre-order packaging, which kept their project on track and brought their joints to market on deadline.
Launch Marketing Campaigns with Funding from FundCanna
In a crowded cannabis market, standing out takes more than a great product — it takes bold, consistent marketing. But campaigns, launches and digital upgrades all cost money. Cannnabis and hemp brands need quick access to funds to build awareness, attract loyal customers and grow their market share — without delay or red tape.
Real Life Look: After 18 months of research and design, a vape compan y was ready to launch a new product line for consumers. Leading up to a hero product launch, a key component of the product was changed and the vape maker was forced to abandon the marketing plan. Instead of a massive omni-channel launch, they chose to invest in an exclusive in- person event. The new goal was to soft-launch their innovation with a warm audience, while leaving cash flow untouched. And they had 72 hours to pull it off.
The company’s distributor recommended FundCanna; the vape maker applied for funding with FundCanna and were approved for the cash needed to execute fresh product photography, order updated merchandise, secure a catered venue, and launch their line like nothing was amiss.
Flexibility and fast access to funding are crucial for cannabis operators. FundCanna’s cannabis industry-specific financing options are designed to meet the unique needs of cannabis operators. By offering solutions like working capital loans and equipment financing, FundCanna empowers businesses to overcome financial hurdles and achieve sustainable growth.
To explore financing opportunities tailored to your cannabis business, you can check your eligibility here.
There is no cost or obligation when you apply.
Get the working capital you need. Fast.
Approvals in as little as 24 hours
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